The New York State Common Retirement Fund, Albany, made investments of $1 billion in two new separate accounts and four commitments worth $485 million, according to information posted on the website of Thomas DiNapoli, the state comptroller and sole trustee of the fund.
The $215.4 billion pension fund pension fund made a first-time investment of $500 million in the actively managed Martin Currie Emerging Markets account, which invests in all emerging market countries, Matthew Sweeney, a spokesman for Mr. DiNapoli wrote in an email.
Another first-time investment of $500 million was made to the actively managed Fiera Capital International Equity separate account, which invests in all developed non-U.S. countries, Mr. Sweeney wrote.
Other commitments were made to two opportunistic funds managed by Blantyre Capital Ltd. The Blantyre Special Situations Fund received €150 million ($166 million); investments will be made in "stressed and distressed corporate financing opportunities" and various "credit-oriented special situations" throughout Europe. Another €75 million went to the Madison Square Fund, a co-investment vehicle that will invest alongside the Special Situations Fund. Both are new relationships, the website said.
The fund made a private equity commitment of €200 million to the IK IX Fund, managed by IK Investment Partners, which will seek investments in European markets. This is an existing relationship.
A $15 million first-time commitment was made to Raith Real Estate Fund II as part of the pension fund's emerging managers program. Raith Real Estate is a closed-end commingled vehicle sponsored by Raith Capital Partners. The commitment is made through the Empire GCM RE Anchor Fund, which is advised by Grosvenor Capital Management, a partner in the New York pension fund's emerging manager program.
The fund also terminated the Barings active/passive international separate account due to a "strategic reallocation," Mr. Sweeney wrote. Approximately $752 million in the account was moved to cash.
The termination and the other transactions took place in October.
